The borrower was at the end of an existing development finance deal and had planned to refinance onto a long-term deal, having completed his two two-bedroom apartments in South Kensington in late October.
When the brokerage, Yellow Stone Finance, approached Aspen to explain the issue, the developer had decided to sell the properties.
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Once the deal was introduced to Aspen, the lender’s director Jack Coombs, head of sales Ian Miller-Hawes and credit analyst Aqib Iqbal worked together to complete the deal for the borrower, providing the 69% LTV loan at 0.82% per month over a 12-month term with no ERCs.
Mike Kelsey, head of sales at Yellow Stone Finance, said: “Jack, Ian and Aqib have yet again provided us with a reliable and cost-effective solution for our client.”
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